Effective bookkeeping allows an accurate tax return to be prepared. But when that tax return yields a balance due, what are the next steps for your tax paying client? Pay in full? Installment agreement? Are these the only two options? And how does a tax payer prevent large balances in the future? By being told to increase their withholdings? In this presentation, you gain insight into how tax resolution fits in to the tax services environment and how you as a tax professional can provide real and satisfying advice to your clients who are looking for less anxious solutions for their large tax balances. You will also gain insight in to the fears your clients may be facing and how you as the tax professional can help them alleviate those fears, helping them to gain even more confidence in you and lead to referral business from their peers.
LEARNING OBJECTIVES:
By completing this session, you will be able to:
- Define tax resolution
- Understand the difference and timing between tax planning, tax preparation, and tax resolution
- See the value of adding tax resolution to your existing practice
- Identify with the feelings your clients are experiencing when faced with having to deal with the IRS
- Know the difference between Form 8821 and Form 2848 and when to use each
- Become educated on the various resolution tools your clients may benefit from
- Increase your value by educating consumers of financial information
WHO SHOULD ATTEND?
CPAs, Enrolled Agents, and tax preparers interested in understanding how tax resolution can help their existing tax practice, those interested in expanding their tax practice beyond tax preparation, or those interested in knowing who to refer tax resolution business out to.
Course Level: Beginner
Course Length: 60 Minutes
Prerequisites: NONE
Delivery Method: Group-Live Internet
Field of Study: Business Law –Technical
Recommended CPE: 1
Recommended CE: 1
IRS Category: Federal Tax Law Topics/Federal Tax Related Matters
Online: NESGF-T-00163-23-O
In-Person: NESGF-T-00163-23-I